Grand China Air (CN, Haikou) will increase its majority shareholding in Hainan Airlines (HU, Haikou) "by not more than 2%" over the next twelve months. In its disclosure to the Shanghai Stock Exchange, Grand China Air also agreed not to sell its stakes in Hainan Airlines during the implementation process and within the statutory time limit.
Grand China Air is itself owned by the Grand China Airlines Holding Company (GCAHC) - a joint-venture between the Hainan provincial government (48.6%), George Soros (18.6%), and Hainan Airlines parent, HNA Group (32.8%).
